A Seemingly simple problem?

query870

Hi,

I have a Simple problem but really not sure where to start.

My Ex and I still jointly own a house which is on the market (200k) with a Mortgage of 185k. We struggled to get a Mortgage with high street lenders dueto a below ave credit score no CCJ's but a few late payments etc.

The house is on the marketat the mo and due for sale shortly ( Price negotiations in progress). With the changes in the Mortgage market im trying to find the best way of buying now on my own. I have little but ideally no deposit.

I'd appreciate any advise around if it possible to '' Transfer'' the existing mortgage agreement to a 130K house and how this would work - If possible??
Also if anyone knows any thing about the shared equity schemes, can you apply for these with impaired credit etc

Thanks in advance

happybroker

you will need at least a 10% deposit, more if you sredit score isn't first rate. The porting of the rate on your existing mortgage to a new one would be dependant on you meeting your lenders existing criteria I'm afraid.